Pliant Therapeutics, Inc. (NASDAQ:PLRX) Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its position in Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 44.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,526 shares of the company’s stock after selling 10,758 shares during the quarter. Citigroup Inc.’s holdings in Pliant Therapeutics were worth $235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its position in Pliant Therapeutics by 97.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,529 shares of the company’s stock valued at $27,000 after acquiring an additional 754 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Pliant Therapeutics in the 1st quarter valued at about $27,000. UBS Group AG lifted its holdings in shares of Pliant Therapeutics by 18.4% in the 2nd quarter. UBS Group AG now owns 3,537 shares of the company’s stock valued at $28,000 after purchasing an additional 550 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Pliant Therapeutics by 144.3% in the 2nd quarter. US Bancorp DE now owns 2,150 shares of the company’s stock valued at $39,000 after purchasing an additional 1,270 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Pliant Therapeutics by 271.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,449 shares of the company’s stock valued at $44,000 after purchasing an additional 1,790 shares during the last quarter. 97.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on PLRX shares. HC Wainwright reissued a “buy” rating and issued a $48.00 target price on shares of Pliant Therapeutics in a report on Wednesday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 target price on shares of Pliant Therapeutics in a report on Wednesday, February 28th. Wells Fargo & Company started coverage on Pliant Therapeutics in a report on Friday, December 8th. They issued an “overweight” rating and a $41.00 target price for the company. Finally, Royal Bank of Canada boosted their target price on Pliant Therapeutics from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $48.44.

Pliant Therapeutics Stock Performance

Shares of PLRX stock opened at $14.55 on Thursday. The company has a quick ratio of 17.72, a current ratio of 17.72 and a debt-to-equity ratio of 0.02. The stock’s 50-day moving average price is $16.19 and its 200 day moving average price is $15.92. Pliant Therapeutics, Inc. has a 52-week low of $12.60 and a 52-week high of $30.85. The stock has a market capitalization of $876.49 million, a PE ratio of -5.22 and a beta of 1.13.

Insiders Place Their Bets

In other Pliant Therapeutics news, insider Hans Hull sold 9,786 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $17.23, for a total transaction of $168,612.78. Following the transaction, the insider now owns 185,069 shares in the company, valued at approximately $3,188,738.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pliant Therapeutics news, CEO Bernard Coulie sold 25,721 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $17.23, for a total transaction of $443,172.83. Following the transaction, the chief executive officer now owns 316,382 shares in the company, valued at approximately $5,451,261.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hans Hull sold 9,786 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $17.23, for a total value of $168,612.78. Following the transaction, the insider now owns 185,069 shares in the company, valued at approximately $3,188,738.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,485 shares of company stock worth $869,857. Company insiders own 5.60% of the company’s stock.

About Pliant Therapeutics

Pliant Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes novel therapies for the treatment of fibrosis and related diseases in the United States. The company's lead candidate is bexotegrast, an oral, small-molecule, dual selective inhibitor of avß6 and avß1 integrins, which is in phase 2b trials for idiopathic pulmonary fibrosis and in phase 2a trial for primary sclerosing cholangitis.